Portugal, Cameroon, Malaysia Patronise Nigerian Crude Oil

Portugal, Cameroon and Malaysia retuned to the Nigerian crude oil market after several months, crude export destination data released by the Nigerian National Petroleum Corporation (NNPC) showed.

According to the report, around 948,000 barrels of Nigerian crude was exported to the Western European country in May 2017, the last shipment was in November 2016 when Portuguese orderd for about 996,000 barrels crude.

The report also showed that West African neighbour Cameroon also bought 700,000 barrels of Nigerian crude grades for the first time that same month after halting Nigerian crude import five months earlier.

Similarly, Nigerian crude export to far East Asia for that month was boosted by the resumption of import by Malaysia, according to the data.

The country bought 1.9 million barrels of Nigerian crude in January 2017 but didn’t order for it again until May when 948,000 barrels of Nigerian crude were shipped to the country.